Melbourne Median house Price has increased

House prices in Melbourne have broken the $900,000 mark for the first time, as Melbourne closes the gap on Sydney house prices with an increase of 3.2 per cent compared to last quarter. The capital city ended 2017 on a high note with double digit annual house price growth, indicating a positive outlook for 2018.

Melbourne units also recorded a price increase this quarter of 2.8 per cent.

Melbourne’s median weekly asking rent over the December quarter rose to $425 for houses and stayed the same for units at $400.